The Rise and Rise of Genesis Coin Bitcoin ATMs

There are quite a few Bitcoin ATM manufacturers in existence today, but Genesis Coin is leading the charge with over 200 machines in operation around the world. This manufacturer provides both one-way and two-way Bitcoin ATMs, and they continue to deploy machines on a regular basis.

Genesis Coin Surpasses The 200 Mark

TheMerkle_Bitcoin Global Genesis Coin

Keeping in mind how there are slightly under 650 Bitcoin ATMs all over the world [at the time of publication], almost one in three of these devices is manufactured by Genesis Coin. That is quite the milestone to say the least, although some might argue that this is gradually leading to a centralization of ATM services in the Bitcoin sector.

It is rather interesting to see Genesis Coin focus their attention on two different type of models. The most obvious choice is the one-way Bitcoin ATM, where users can purchase cryptocurrency in exchange for cash. This is the most common type of ATM for Bitcoin users all over the world, but there is a growing demand for devices where users can sell their cryptocurrency as well.

This is why Genesis Coin has invented the Genesis1, which serves as a two-way Bitcoin ATM to both buy and sell cryptocurrency. What is even more interesting is how these particular models support two other digital currencies as well, specifically Litecoin and Dogecoin. This makes the devices even more versatile than their competitors, which may attribute to the success of this company in the long run.

Don’t be mistaken in thinking these Genesis Coin machines are cheap, as they will set you back between US$6,800 and US$14,500 a piece. These prices include shipping to the continental US, whereas international customers will need to pay for shipping, handling and import duties.

As one would come to expect from a Bitcoin ATM, all of the machines are packed to comply with KYC and AML regulations. An optional finger scanner can be added for those operators looking to take additional security precautions. The standard package includes SMS verification, an ID card reader, and HD camera for scanning purposes.

Source: CoinATMRadar

Images credit 1,2

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.